Gerard Cassidy Good Quotations

It's a resolution of a long-simmering cloud that'd been hanging over this company. Though it's painful, the resolution could have been worse. It's good news that it's resolved.

Should this or a transaction like this go through, the initial reaction is going to be very favorable, similar to the Legg Mason-Citigroup transaction. The proof in the pudding won't really be seen for a good three years. Then people can look back and say 'Wow, super smart deal,' or 'not so smart.

The numbers were good at all of the custody banks and were driven by revenue in their asset management business.

Investors that were hoping for the sale of the company will be disappointed by this announcement. Investors who are in it for the long run will be pleased. I think this is a very strong choice, a very good choice for the company to bring in a Bob Kelly to run it.